First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) Sees Large Decline in Short Interest

First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,000 shares, a drop of 58.3% from the March 15th total of 2,400 shares. Based on an average daily volume of 5,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

First Trust Nasdaq Transportation ETF Price Performance

NASDAQ:FTXR opened at $27.71 on Wednesday. The firm has a market cap of $24.94 million, a price-to-earnings ratio of 12.50 and a beta of 1.37. The firm’s fifty day moving average price is $30.79 and its 200 day moving average price is $33.29. First Trust Nasdaq Transportation ETF has a 1-year low of $25.47 and a 1-year high of $37.32.

First Trust Nasdaq Transportation ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a dividend of $0.1173 per share. This represents a $0.47 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTXR. LPL Financial LLC lifted its position in shares of First Trust Nasdaq Transportation ETF by 21.2% during the 4th quarter. LPL Financial LLC now owns 49,950 shares of the company’s stock valued at $1,717,000 after acquiring an additional 8,721 shares during the period. Citadel Advisors LLC increased its stake in First Trust Nasdaq Transportation ETF by 38.2% in the 4th quarter. Citadel Advisors LLC now owns 22,871 shares of the company’s stock valued at $786,000 after purchasing an additional 6,327 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in First Trust Nasdaq Transportation ETF during the fourth quarter worth $203,000. Finally, Wells Fargo & Company MN raised its holdings in First Trust Nasdaq Transportation ETF by 1.9% during the fourth quarter. Wells Fargo & Company MN now owns 16,039 shares of the company’s stock worth $551,000 after purchasing an additional 304 shares during the last quarter.

About First Trust Nasdaq Transportation ETF

The First Trust Nasdaq Transportation ETF (FTXR) is an exchange-traded fund that is based on the Nasdaq US Smart Transportation index. The fund tracks an index composed of 30 US transportation companies. Holdings are selected by liquidity and weighted based on volatility, value and growth factors. FTXR was launched on Sep 20, 2016 and is managed by First Trust.